The ever evolving data challenge for effective Customer Due Diligence
Highly regulated institutions face many challenges now that there is an increased need to “know” their customers. Typically, companies need to go deeper and broader with onboarding, monitoring and AML investigations, driving up completion times and often requiring a
Wirecard, increasing risk, and banks’ need for KYCC
Banks use KYC to obtain data on their clients for onboarding and periodic review processes - a set of protocols to assist with gaining a better understanding of the exposure to risk within a book of customers. Conducting KYC
The Arachnys Data Source Series: South Africa
Continuously building out our source information, we look to give our clients the confidence to perform onboarding, screening and investigations for companies and individuals they do business with worldwide. The worldwide tag here is one of utmost importance. The material
InsideArachnys – Q&A with Renzhi Zhou, Junior Software Engineer
Welcome to InsideArachnys, a series of interviews where we speak to the people behind the Arachnys platform. This month, we caught up with Renzhi Zhou, our Junior Software Engineer based in London. Hi Renzhi, can you tell us a little bit
Gambling AML: an industry still flush with fincrime
Financial gain is a gamble that can pay off for opportunistic criminals, and it is evident that the lucrative gambling industry has been a major target for money launderers for a long while, particularly in the UK. It is an
Correspondent Banking: The financial system’s gift and curse
Correspondent Banking has been defined by the FATF (Financial Action Task Force) as “…the provision of banking services by one bank (the “correspondent bank”) to another bank (the “respondent bank”)”. Larger international banks usually act as correspondents for smaller
The FinCrime Files – Q&A with Gregory Dellas, Chief Compliance & Innovation Officer at ECOMMBX
In our continuing series of the FinCrime Files, we caught up with Gregory Dellas, Chief Compliance & Innovation Officer at ECOMMBX. Hi Gregory, could you tell us a little about yourself and your current role at ECOMMBX? After a 22-year long
Managing the due diligence challenges posed by HNWIs
High net worth individuals (HNWIs) are an important target for asset and wealth managers (AWMs) in markets all around the world. But while HNWIs are an attractive and growing market, increasing 9% by number globally over the past year
The FinCrime Files – Q&A with Andrew Jackson, Head of Financial Crime Compliance at Alpha Bank
In our continuing series of the FinCrime Files, we caught up with Andrew Jackson, Head of Financial Crime Compliance at Alpha Bank. Hi Andrew, could you tell us a little about yourself and your current role at Alpha Bank? I have
Arachnys expands advisory board with key appointment of Greg Watson
Arachnys, the market-leading platform enabling financial institutions to have confidence in all their KYC, AML and EDD decisions, today announced the key appointment of Greg Watson to their advisory board. A former Managing Director at HSBC for seven years, including
Supply chain due diligence: can oil and gas firms do more?
In the oil and gas industry, fraud, bribery and other financial crimes hit the headlines regularly. Stories about poor practices in the supply chain, for example relating to human rights and the environment, are also rife. The sector is
How gold trading continues to trouble AML investigators
As a commodity synonymous with exuberant sums of money, gold has long been a glittering opportunity for financial criminals. Not only an attractive proposition at face value, digging deeper it’s also noteworthy that the trafficking of gold is, remarkably,